The FCA is spearheading an initiative by establishing an industry-led working group focused on bolstering capabilities in sustainable finance.
This decisive move follows the FCA’s announcement last November, where it laid out a comprehensive set of measures aimed at reinforcing the UK’s stature as a global hub for asset management and sustainable investment. The newly formed group, chaired by the esteemed Daniel Godfrey, with Julia Dreblow serving as vice-chair, is set to act as a driving force behind the FCA’s ambition.
In an era where sustainability is not just a preference but a necessity, the FCA is positioning itself as a proactive observer, ensuring that the group’s trajectory aligns with the overarching goal of promoting sustainable investment practices.
The remit of this group is broad yet focused: to scour the landscape of the advice sector and foster a culture of good practice, particularly concerning products that boast sustainability claims. With a timeline set to unveil their findings in the latter half of 2024, the stakes are high, and the expectations, even more so.
The composition of the working group is a testament to the FCA’s inclusive approach, encompassing a wide array of voices from across the advice sector. This diversity in membership ensures that the group’s output is not just comprehensive but also resonant with the needs and expectations of all stakeholders, including the end consumers.
Sacha Sadan, Director of Environmental, Social & Governance at the FCA, expressed his enthusiasm for the initiative, stating, “We are delighted that Daniel, Julia and PIMFA have agreed to lead the working group. This important project will benefit from their combined skills and expertise.”
Echoing the sentiment of collective effort and industry-led solutions, Daniel Godfrey remarked, “I’m deeply honoured and excited to have been asked by the FCA to chair the Advisers’ Sustainability Group.” He further emphasized the importance of a collaborative approach, one that seeks to amalgamate diverse perspectives, thereby enriching the group’s mandate.
This initiative is not just about understanding sustainability risks but about integrating these considerations into the fabric of financial advice, ensuring that investment strategies are not only robust but also aligned with the long-term interests and values of clients. It’s a step towards a future where finance is not just about growth but about growing responsibly.
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